The import of packing containers, including record sleeves, to Saudi Arabia has shown a consistent decline over the years. From 2013 to 2023, the imports have decreased from $7.1928 million to $2.0488 million. The period from 2013 to 2016 shows a gradual decrease followed by a sharp drop in 2017. Although there was a slight increase in 2018, the downward trend continued. In recent years, the decline has been more pronounced with a significant year-on-year decrease of 9.02% in 2023. The CAGR over the last five years stands at -6.71%.
Future trends to watch for:
- Continuous decline is anticipated with a forecasted CAGR of -11.56% from 2024 to 2028.
- Potential impacts of economic policies and regional market dynamics on import volumes.